I deally, Ideeli shouldn’t have had to drop that final “i” from its name — for such rebranding campaigns take time and money. Parent Groupon is not swimming in either if you ask investors, who have been impatient with the stock’s lackluster performance.

But realistically, the New York-based fashion flash-sales site that Chicago-based Groupon acquired back in January for $43 million felt it needed to have a simpler name and after test-driving Ideel, with branding on the site such as “Ideel of the Day” and “IdeelStyle,” a decision was made and announced today.

In a press release sent out on the topic this morning, Lisa Kennedy, president of Ideel, invoked an iconic French fashion designer known for a fashion rule of removing one accessory before leaving the house.

“Coco Chanel once said that simplicity is the keynote of all true elegance,” Kennedy said in the announcement. “The new look and feel of ‘Ideel’ helps us get closer to that ideal. This new name and design fits a fast-growing apparel flash sales site, delivering an amazing experience for our customers and our partners at some of the world’s best brands.”

Do not take that Chanel reference to mean Ideel is hiking its prices to luxury levels. It’s going to have the usual mix of designer goods in women’s apparel, shoes, home goods and menswear, all at discounts of up to 70 percent. Today, you can find Badgley Mischka apparel, Fendi and Prada sunglasses, among other picks.

Groupon must be hoping the rebranding fuels sales. Investors are reportedly getting impatient with onetime darlings Groupon and Zynga, both of which have seen steep declines in their stock value since going public in 2011. Earlier this month, Groupon missed analyst expectations and reported deeper losses than anticipated on increased spending.

After getting an MA in journalism from Syracuse University, Teresa worked as a general assignment newspaper reporter—general on purpose because besides the usual city hall and police articles, there was the chance to fly an F-18 with the Blue Angels and tag along with bounty hunters on a stakeout—all good preparation for covering entrepreneurs.